KPR Mill ventures into ethanol production
KPR Mill, one of the largest vertically integrated textile player, announced that the company has ventured into ethanol production by setting up ethanol plant at its sugar factory in Karnataka.
The plant will have a capacity of 90 KLPD and the cost for the project is around Rs. 120 crore. The company expects to start production from this plant in the next season. The main purpose of the venture is to increase value addition and reduce the volatility in its sugar business.
Looking at the recently concluded quarter Q3FY19, the company has posted growth in revenue and net profit by 8.3 per cent and 18.3 per cent, respectively on YoY basis.
The company’s product revenue mix stood at Yarn & Fabric (49 per cent), Garments (37 per cent), Sugar (8 per cent) and Others (6 per cent). On the geographical front, it derives 59 per cent revenue from domestic market and remaining from exports.
On Monday, the stock of KPR Mills opened at Rs. 533.05 per share and made an intraday high of Rs. 541.20 on the BSE. At 15:01 hours, the stock was trading at Rs. 530.75. The stock had hit its 52-week high of Rs. 740 on March 1, 2018 and its 52-week low of Rs. 512.95 on January 14, 2019 on the BSE.